PayRange has agreed to acquire KioSoft Technologies in a transaction that unites two of the most widely recognized technology providers in the unattended retail sector. The companies said the combination will accelerate the modernization of millions of coin-operated and self-service machines globally while expanding digital payment capabilities and operator tools across multiple markets.
The move brings together PayRange’s mobile-first payments platform with KioSoft’s international presence and established operator network, creating, as both companies describe, a more powerful end-to-end ecosystem for consumers and machine owners. The combined business will support connected machines throughout the United States, Canada, Latin America, and Europe.
Leadership from both companies said the acquisition represents a strategic advance toward a more unified and convenient payment experience, at a time when unattended retail is shifting toward digital transactions. PayRange said it expects the deal to enhance its ability to help operators increase revenue, reduce operating costs, and provide modern engagement features to customers who rely on machines in categories such as laundry, vending, amusement, car wash, parking, and air pump services.
KioSoft will begin operating under the PayRange brand while continuing to support all existing customers without disruption. As part of the transaction, KioSoft President Charles Lee will become Vice Chairman at PayRange and will maintain a significant ownership position in the combined company. Financial terms of the acquisition were not disclosed.
PayRange noted that the merger further strengthens its position as a provider of integrated IoT, cashless payments, real-time analytics, and all-in-one POS systems for unattended retail. KioSoft, which maintains offices in Florida, Canada, and Mexico, will contribute its portfolio of unattended payment technologies and its longstanding relationships across multiple industry verticals.
KEY QUOTES:
“Unattended retail is one of the last frontiers of digital transformation. For the past decade, PayRange has focused on bringing convenient mobile-first connectivity to everyday transactions. Through the acquisition of KioSoft, we bring together our complementary skills and product offerings to reinvent self-service commerce and simplify how people pay for everyday items and experiences.”
Paresh Patel, Founder And CEO Of PayRange
“Today’s announcement represents a major leap forward in our shared vision to make everyday payments smarter, simpler, and more connected than ever. This combination is about accelerating a modernized, convenient, and unified payment experience for the millions of consumers who use unattended retail machines every day. On behalf of my KioSoft colleagues, I am delighted to be joining the PayRange family and look forward to working together to accelerate innovation and bring more machines online.”
Charles Lee, President Of KioSoft
